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Laws should cover Clerys liquidation

A report into the sale and liquidation of Clery's says it's too early to know whether former workers...
TodayFM
TodayFM

4:59 PM - 7 Jul 2015



Laws should cover Clerys liqui...

News

Laws should cover Clerys liquidation

TodayFM
TodayFM

4:59 PM - 7 Jul 2015



A report into the sale and liquidation of Clery's says it's too early to know whether former workers at the store and its creditors will get paid by the liquidators.

Junior Minister Ged Nash says the law does provide for a situation where assets are kept in one arm of a company, while losses accumulate in another part of the company, which is then liquidated, as happened in Clerys.

Minister Nash says he expects that the company's assets should be available to the liquidators, but that if that's not the case, then the law will need to be changed.

Michael Meegan from SIPTU says the 400 workers in the store just want what's owed to them;



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